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Insurance earnings roundup, Aug. 1

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Insurance earnings roundup, Aug. 1

With earnings season in gear, S&P Global Market Intelligence presents a snapshot of recently reported financial results for companies in the insurance space.

Life and health

Voya Financial Inc. reported second-quarter after-tax operating earnings of $125.2 million, or 67 cents per share, compared with $159.9 million, or 79 cents per share, in the year-ago period.

The S&P Capital IQ consensus normalized EPS estimate for the quarter was 85 cents.

Second-quarter net income available to common shareholders was $167.2 million, or 89 cents per share, compared with $161.5 million, or 79 cents per share, in the year-ago quarter.

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Genworth Financial Inc. reported second-quarter net income available to common stockholders of $202 million, or 40 cents per share, up from $172 million, or 34 cents per share, in the year-ago period.

The company reported adjusted operating income of $151 million, or 30 cents per share, compared with $123 million, or 25 cents per share, in the prior-year quarter.

The S&P Capital IQ consensus normalized EPS estimate for the quarter was 24 cents.

Mortgage Guaranty

Radian Group Inc. reported a second-quarter net loss of $27.3 million, or 13 cents per share, compared with net income of $98.1 million, or 44 cents per share, in the year-ago quarter.

Adjusted pretax operating income for the quarter increased year over year to $163.7 million from $131.4 million. Adjusted net operating income per share was 48 cents in the second quarter, compared with 38 cents in the year-ago quarter.

The S&P Capital IQ consensus normalized EPS estimate for the quarter was 41 cents.

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Genworth MI Canada Inc. reported second-quarter net operating income of C$126 million, or C$1.36 per share, compared with C$99 million, or C$1.07 per share, in the year-ago period.

The S&P Capital IQ consensus normalized EPS estimate for the quarter was C$1.11.

Second-quarter net income was C$150 million, or C$1.61 per share, up from C$91 million, or 99 Canadian cents per share, in the second quarter of 2016.

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NMI Holdings Inc. reported second-quarter net income of $6.0 million, or 10 cents per share, compared with $2.0 million, or 3 cents per share, in the prior-year period.

Multiline

Assurant Inc. reported second-quarter net operating income of $90.5 million, or $1.63 per share, up from $89.0 million, or $1.42 per share, in the year-ago period.

GAAP net income for the quarter was $120.2 million, or $2.16 per share, compared with $169.3 million, or $2.70 per share, in the second quarter of 2016.

For full year 2017, Assurant expects net operating income, excluding reportable catastrophe losses, to be flat with 2016. Operating EPS, excluding catastrophe losses, is expected to grow double digits year over year, mostly due to share buybacks.

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Kemper Corp. posted second-quarter consolidated net operating income of $21.0 million, or 41 cents per share, an increase from $4.6 million, or 9 cents per share, in the year-ago quarter.

Second-quarter net income was $36.6 million, or 71 cents per share, compared with $4.0 million, or 8 cents per share, in the prior-year period.

Property and casualty

Allstate Corp. reported second-quarter operating income of $510 million, or $1.38 per share, compared with $235 million, or 62 cents per share, in the prior-year quarter.

The S&P Capital IQ consensus normalized EPS estimate for the quarter was 90 cents.

Second-quarter net income applicable to common shareholders was $550 million, or $1.49 per share, compared with $242 million, or 64 cents per share, in the second quarter of 2016.

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Intact Financial Corp. posted second-quarter net income of C$243, or C$1.82 per share, an increase from C$93 million, or 67 Canadian cents per share, in the prior-year quarter.

Second-quarter net operating income was C$193 million, or C$1.44 per share, versus C$114 million, or 83 cents per share, in the year-ago quarter.

The S&P Capital IQ consensus normalized EPS estimate for the quarter was C$1.32.

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American Financial Group Inc. reported second-quarter core net operating earnings of $145 million, or $1.61 per share, compared with $113 million, or $1.28 per share, in the prior-year quarter.

Second-quarter net earnings attributable to shareholders were $145 million, or $1.61 per share, up from $54 million, or 62 cents per share, in the year-ago quarter.

The company also disclosed that it now expects core net operating earnings for the year to be between $6.40 per share to $6.90 per share. It previously anticipated core net operating EPS of $6.20 to $6.70.

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James River Group Holdings Ltd. reported second-quarter adjusted net operating income of $14.9 million, or 49 cents per share, compared with $13.7 million, or 46 cents per share, in the second quarter of 2016.

Second-quarter net income was $14.5 million, or 48 cents per share, versus $14.6 million, or 49 cents per share, in the year-ago period.

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Trupanion Inc. reported second-quarter net income of $411,000, or 1 cent per share, compared with a net loss of $964,000, or a loss of 3 cents per share, in the second quarter of 2016.